Pantera Capital

Last updated
Pantera Capital
Pantera Advisors, LLC
Company typePrivate
Founded2003;22 years ago (2003)
FounderDan Morehead
Headquarters,
U.S.
Area served
Products
AUM US$4.2 billion (2022)
Website Official website

Pantera Capital is an American hedge fund and venture capital firm focused on digital assets headquartered in Menlo Park, California. [1] [2] The fund specializes in cryptocurrencies and blockchain technology. [3] [4] It is one of the largest digital asset funds in the world by managed assets. [5]

Contents

History

The firm was founded in San Francisco, California in 2003 by Dan Morehead, before opening offices on Silicon Valley's Sand Hill Road. [6] The fund was initially focused on global macro before moving into digital assets with Joey Krug, the founder of the first major Ethereum project, Augur. [7] [8] Morehead previously led global macro trading at Tiger Management and is seen as one of the fund's "tiger cubs". [9]

The company invested money in the fraudulent cryptocurrency firm FTX and was hit hard by its collapse in November 2022. [10]

Funding

In 2013, Pantera launched the first investment fund focused on Bitcoin in the United States. [2] [3] The fund opened an office in New York during the early 2000s and established operations in Puerto Rico in 2021. [11] [12]

Pantera launched its second blockchain fund in 2022, seeking to raise $1.25 billion. The company’s first blockchain fund was launched in June 2021. [13]

The company launched its third venture fund in 2018 and raised $100 million. [14]

See also

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References

  1. Schatzker, Erik (26 April 2018). "Hedge Fund Pantera CEO Says Bitcoin Is 'Screaming Buy,' Bets on Icon". Bloomberg. Retrieved 2021-06-03.
  2. 1 2 Popper, Nathaniel (2017-12-19). "A Bitcoin Hedge Fund's Return: 25,004% (That Wasn't a Typo)". The New York Times. ISSN   0362-4331 . Retrieved 2021-06-03.
  3. 1 2 Leising, Matthew (27 February 2021). "Coinbase Mafia Shows How Tight a Circle Holds Sway Over Bitcoin". Bloomberg. Retrieved 2021-06-03.
  4. Fletcher, Laurence (2020-05-21). "Crypto hedge funds struggle to recover from 'bloodbath'". Financial Times. Retrieved 2021-06-03.
  5. Kharif, Olga (December 27, 2023). "Crypto Hedge Funds Gear Up for 'Token Mania' After 2023 Rebound". Bloomberg. Retrieved January 14, 2024.
  6. Ballentine, Claire (13 May 2021). "Crypto Fund Pantera Says Bitcoin Energy Concern to Impact Market". Bloomberg. Retrieved 2021-06-03.
  7. Geron, Tomio (2018-11-12). "Crypto Investor Pantera Alters a Fund Amid Downturn". Wall Street Journal. ISSN   0099-9660 . Retrieved 2021-04-10.
  8. "Ethereum Beats Rivals With 'Trade-Offs,' Pantera's Krug Says". Bloomberg.com. 2022-01-09. Retrieved 2022-08-09.
  9. "How a former Goldman trader built a $US5.6b crypto behemoth". Australian Financial Review. 2022-01-24. Retrieved 2024-01-15.
  10. "Exclusive: Pantera Capital exec quietly leaves the crypto VC firm". Yahoo Finance. 2023-10-06. Retrieved 2024-06-12.
  11. Francesca, Maglione (December 11, 2021). "Zero Taxes, Golf and Beach Houses Create a Crypto Island Paradise". Bloomberg. Retrieved January 14, 2024.
  12. Sigalos, MacKenzie (2022-01-16). "Bitcoin millionaires are moving to Puerto Rico for lower taxes and island living". CNBC. Retrieved 2024-01-15.
  13. Benzinga (2022-09-29). "Pantera Capital Seeks To Raise $1.25B For Its Second Blockchain Fund". The Dales Report. Retrieved 2024-06-12.
  14. Rooney, Kate (2018-08-16). "Crypto hedge fund Pantera on track to raise $175 million despite bitcoin's price slump". CNBC. Retrieved 2024-06-12.